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Quote of the day: GUNS

June 24, 2016

GUNS

On March 17, 2000, [President Bill] Clinton and [Secretary of Housing and Urban Development Andrew] Cuomo announced the deal: among other things, Smith & Wesson agreed to develop a smart gun and take steps to prevent dealers from selling to criminals. Cuomo declared, “We are finally on the road to a safer, more peaceful America.” But on the day the deal went public the N.R.A. denounced Smith & Wesson as “the first gun maker to run up the white flag of surrender.” It released [smith & Wesson CEO Ed] Shultz’s phone number, and encouraged members to complain. He received many threats. One caller said, “I’m a dead-on shot, Mr. Shultz.” Another executive took to wearing a bulletproof vest, according to “Outgunned,” a history of gun-control politics, by Peter Harry Brown and Daniel G. Abel. Online, a boycott took hold, and sales of Smith & Wesson guns fell so sharply that two factories temporarily shut down. In ten months, the stock lost ninety-five per cent of its value, and the company was sold the next year for a fraction of its former worth.